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Wanmo Acoustic completed series C round finance by YINGKEpe Capital and Ningbo Bank Investors include Shanghai Chitai Industrial from YINGKEpe Capital and Ningbo Bank.

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According to PEdaily News on January 14th, the headphone brand 1MORE has completed the series C round of finance in last December. Investors include Shanghai Chitai Industrial from YINGKEpe Capital and Ningbo Bank. However, there’s no news revealing the amount of investment.

Founded in 2013, 1MORE is a technology company that focuses on electronic product development and production. 1MORE’s services include headphone research and product development, design, marketing and authorization of related technology and property intellectual rights. In November 2015, 1MORE officially established their name from 1MORE into Wanmo Acoustic technology co.LTD.

Due to the massive promotion by Wanmo Acoustic in these past few years, many of their own brands, including 1MORE, have taken a decent amount of market shares. In 2016, Chinese pop singer Jay Chou bought into Wanmo Acoustic as the “chief creative officer” of 1MORE, bringing in his own brand TiinLab that helped Wanmo Acoustic to take a share in the headphone market for video games.

In terms of product research and development, Wanmo Acoustic recruited many acoustic specialists, including the four-year Grammy-winning music engineer Luca Bugiardi. Zhandiao Zhang, the vice president of Wanmo Acoustic mentioned in a previous interview that Wanmo Acoustic researches and designs their product with a specific focus on their costumers’ acoustic needs among all ages or social groups. Products are designed and marketed after a series of testing and examinations. The products need to pass a test with 90% satisfaction from a group of 50 randomly selected music fans. After alteration, they need to pass the same test from a group of 500 – 1,000 music fans before being marketed.

On the other hand, Wanmo Acoustic has been showing up in the market for capital. At the beginning of this month, Love Acoustic, a holding company owned by Wanmo Acoustic purchased 15.27% of Gettop Acoustic Co. Ltd’s stock equity with 995 million RMB. Wanmo Acoustic now owns the most amount of stock value in Gettop Acoustic.

According to Wanmo Acoustic’s finance report, Wanmo Acoustic’s annual profit was 326 million RMB in 2015, with a net profit of 39.2 million RMB. In 2016, Wanmo has profited over 400 million RMB with a net profit of 53 million RMB. 

(Translated by Paris Wu)

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